C.B.I vs A.Ravishankar Prasad & Ors

The Supreme Court held that the quashing of criminal proceedings under Section 120-B read with Section 420 IPC and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988 by the High Court was erroneous. The Court emphasized that a settlement with the bank does not absolve the respondents from criminal liability, as they were involved in a conspiracy to defraud the bank. The Court reinstated the charges against the respondents, asserting that the High Court failed to adequately consider the prosecution's evidence before quashing the proceedings.